Bitcoin Forum

Bitcoin => Bitcoin discussion => Topic started by: Shiftal on February 24, 2021, 07:07:56 AM

Title: How to Buy Bitcoin in India?
Post by: Shiftal on February 24, 2021, 07:07:56 AM
Bitcoin is, of course, the first cryptocurrency to come into existence. Invented on 31st October 2008, it was based on the white paper submitted by Satoshi Nakamoto. While there was only one cryptocurrency in 2008, now there are more than 5,000 out there. In a little over a decade, think about the giant leap that cryptocurrencies have taken. While you are reading this post, there 2019s probably another cryptocurrency getting deployed somewhere. People have already begun investing lump-sum amounts in cryptocurrencies with amazing returns. As the de facto face of the crypto market, Bitcoin is a worthy investment for the foreseeable future. If you 2019re wondering how you can buy bitcoin in India, let 2019s have a look at how you can get started:


How to Buy Bitcoins in India


There are numerous ways to buy bitcoin in India. They can be bought on exchanges and there are several marketplaces that facilitate transactions directly between people. The method of buying bitcoin varies depending on your preferences, available options, and capital. But you can use a variety of methods such as 2013 online transactions, cash or even bank transfers 2013 more on that, below.


The preliminary step when buying cryptocurrencies is to get hold of a digital wallet to store your bitcoin and it is mandatory for buying one. After that, you can use any of the above-mentioned methods to buy bitcoin. There is no restriction on the type of online wallet you use. The various types can be:


Here are some essential tips on keeping a digital wallet:


The first and foremost aspect is securing the keys or passwords of your wallet. You can 2019t lose the key, as it can never be recovered. Losing the key, therefore, means losing access to all your holdings in the Bitcoin wallet.


The second aspect is to invest according to your budget, as the prices of Bitcoin fluctuate just like stocks. At times you might make a huge profit out of them while during the other times the loss may overshadow your profit. Hence, invest wisely.


How Many Ways Can You Buy Bitcoins?


One of the Best ways to buy bitcoin in India is by register on an online cryptocurrency exchange. There are several crypto exchanges available today that are secure and boast healthy liquidity to allow quick and easy trades. All you need to do is a bit of research on some of the cryptocurrency exchanges ideal for you in order to clearly get the bigger picture. Some exchanges are prone to security lapses and can be unreliable, so you need to be careful. Similarly, you should also research your Bitcoin wallets before getting hold of any of them. Some of the globally renowned Bitcoin exchange includes Shiftal. They offer:


P2P marketplace functionality 2013 where you directly engage with a suitable trader for each transaction and trade your BTC or ETH with a wide range of payment methods.


After the introduction of KYC (Know your client) and AML (Anti Money Laundering) norms, most exchanges require your information in order to validate your identity. The information includes your ID proof, photo, bank account details, proof of address, and so on. Shiftal provides easy KYC onboarding through YOTI.


The mode of the transaction can be varied, as you can Buy bitcoin with card also. There is a tiny transaction fee for each and every transaction you make and that includes the cost of using the bitcoin network as you transfer your holdings from the exchange to your wallet. Some even Buy bitcoin with PayPal as well. The transaction might take some time 2013 from a few minutes to hours 2013 it is entirely dependent on the network traffic that is a part of the transaction.


As soon as your transaction is complete, you will have Bitcoins in your exchange wallet. You can then transfer the funds to your wallet off the exchange.


How much return can you get if you invest in Bitcoins?


The decentralized virtual currency that took the world by storm has witnessed a 300 per cent rise in value in just one year. Its value hit an all-time high when Japan passed a law to accept bitcoin as a legal payment system. Despite RBI 2019s reluctance to recognize the cryptocurrency, the interest in Bitcoins in India has not waned. The value of Bitcoins may not come down as there are a limited number of Bitcoins and every day more and more people are showing interest in investing in cryptocurrency.


The leading peer-to-peer bitcoin marketplace is now in India. Shiftal is the best option if you want to convert your INR to BTC. With escrow-backed payments and over 70 payment methods available, buying bitcoin has never been more safe and easy. Your peace of mind is our top priority, that 2019s why your bitcoin wallet comes loaded with robust security features and two-factor authentication for additional safety. With stringent verification measures and a transparent process, Shiftal is one of the safest trading environments in the world.


How To Buy Bitcoin With PayPal

Millions of people use PayPal all over the world to immediately send and receive money. Many people want to know how they can exchange their PayPal money into bitcoin simply and immediately. This guide will easily tell you all the ways you can use PayPal to buy bitcoins online. PayPal is also a famous payment method for buying and selling bitcoin in huge amounts.

The Complete Guide To Buy Bitcoins With PayPal


Bitcoin is the first unchangeable peer-to-peer money of its kind that is backed by cryptography and the blockchain. With a recent rush in the popularity of bitcoin, more people across the globe want to have access to bitcoin. As a global payment system, PayPal is one of the most popular ways for people to send money worldwide. PayPal supports both online money transfers and payment processing and is a suitable way for people to make purchases online.


Can I Use PayPal To Buy Bitcoin?


Yes, whereas there is no direct way of using PayPal to buy bitcoin since bitcoin transactions are unchangeable, what you can do is find a suitable trading platform or marketplace that will permit you to purchase bitcoin using PayPal.


Advantages


If you already have a PayPal account, the purchase process is easier and faster.
PayPal purchase protection for buyers.
Identity verification isn 2019t always needed.


How Can I Buy Bitcoin With PayPal?


If you would like to buy bitcoin with PayPal as a payment methodology you have to search a well-reputed exchange that may enable you to create a deposit using PayPal as a funding methodology. Platforms like trading platforms, marketplaces, and peer-to-peer lending platforms are included in this.


Types of third-party platforms that enable you to buy bitcoin with PayPal are:


Trading Platforms


A trading platform is a platform where you can buy and sell Bitcoin and other cryptocurrencies. While many dealers do not accept PayPal deposits, some do.


Person-To-Person Marketplaces


These are platforms that connect sellers with buyers and enable them to trade directly with each other. While not all dealers accept PayPal as a payment method, many do. To find sellers that accept PayPal as a payment method, you can sign up for a well-respected person-to-person marketplace that has an escrow system in place.

Peer-To-Peer Lending Platforms


These are platforms that allow people to buy cryptocurrencies like bitcoin straight away from a dealer. Bitcoin is credited from the buyer and payment is sent to the seller in a single transaction.


Best Way To Buy And Sell BTC


Step 1: Registering with Shiftal


Register your account with Shiftal. You get a free and safe online wallet. Any other supporting apps are not required.


Step 2: Searching It Right


From the above options, choose your location and appropriate payment method. Choosing the payment method is highly important. If you 2019re not sure whether you want to Buy Bitcoin with Cash or Card, select 201CAll online offers 201D as your payment method. The site will list bitcoin dealers available in your location.


Step 3: Selecting It Right


From the list of choices choose one from a dealer with a reputable score and a large volume of trades. The Offline/Online indicator shows the recent status of the trader. You can click the 2018Buy 2019 or 2018Sell 2019 button to view more details about your selection.


Step 4: Opening A Trade


After you click the 2018Buy 2019 or  2018Sell 2019 button you 2019ll see more details about your choices, including the terms of the trade. Read them very attentively before submitting the trade request, if you don 2019t agree with them, you can go back to the previous page and choose another selection.


Step 5: Receiving Your Bitcoin


Keeping the mandate standards in mind and the time used in doing manual KYC onboarding procedure. We have partnered with YOTI to give the provision of the fastest and highly advanced automated KYC system to Shiftal users, making it one of the best P2P crypto exchanges.


Conclusion


So there you have it! While buying Bitcoin with PayPal isn 2019t as suitable as something like exchanging other cryptos for Bitcoin from your wallet due to factors like high prices and having to deal with possibly shady dealers, PayPal is still a favoured payment method for many. Hopefully, this guide helps you on how to buy Bitcoin with PayPal!


For Full Information Please Read the original Source: https://www.shiftal.com/blog/how-to-buy-bitcoin-in-india/ (https://www.shiftal.com/blog/how-to-buy-bitcoin-in-india/)
Title: Re: How to Buy Bitcoin in India?
Post by: mlawson71 on February 24, 2021, 06:28:13 PM
Keep in mind that the Indian government plans to impose a pretty big tax on Bitcoin - 18%, to be more precise.  (https://theforexreview.com/2020/12/30/india-considers-imposing-an-18-tax-on-crypto-trading/)
Title: Re: How to Buy Bitcoin in India?
Post by: Shiftal on March 18, 2021, 09:09:08 AM
Keep in mind that the Indian government plans to impose a pretty big tax on Bitcoin - 18%, to be more precise.  (https://theforexreview.com/2020/12/30/india-considers-imposing-an-18-tax-on-crypto-trading/)





But that is still uncertain and the amount of profit one can gain from crypto trading is far better than traditional trading so even if the tax is introduced people can make a good amount that too legally.
Title: Re: How to Buy Bitcoin in India?
Post by: dolcemariposa1 on March 18, 2021, 06:58:38 PM
It is advisable to acquire Bitcoin anonymously for greater security.
Title: Re: How to Buy Bitcoin in India?
Post by: Shiftal on March 19, 2021, 10:36:42 AM
It is advisable to acquire Bitcoin anonymously for greater security.


Yes. Privacy is important in bitcoin purchase transactions. The more people know about your assets, the more likely it's to get hacked. We at Shiftal value the user privacy very much and allow them to trade directly with each other (P2P) without having to share their personal info with anyone.